US equity markets posted broad gains on Thursday, with the Dow Jones Industrial Average and Nasdaq Composite rising in early trading.
The rally was driven by a softer-than-expected June jobs report, which showed fewer new positions created than economists had forecast.
Investors interpreted the cooling labor market as a positive signal for monetary policy, increasing the likelihood of interest rate cuts in the near term.
The positive sentiment followed a volatile week for technology shares, with the broader market finding support in the macroeconomic data.
The weaker employment figures alleviated some concerns about an overheating economy, allowing traders to pivot toward a more dovish Federal Reserve outlook.
This repricing of rate expectations provided a tailwind for growth stocks, which had been under pressure earlier in the week.